What is the possibility of wage garnishment five years after judgment?

Creditors have a number of actions that they can take to collect a debt. Some states, assuming you're in the United States, allow creditors to have their judgments renewed. Some states allow multiple renewals, which means that the creditor can hold this debt over your head until you die.

If they renew it, it's back on your credit rating. There are some rules for garnishment, although few are in your favor. You can't be fired because of a garnishment.

And the federal government sets limits on the maximum that can be taken out of your check. Most creditors will put lien on your house or other things that you own. If there is a lien on your house or anything else, you will never own it outright until the debt is taken care of.

On top of the debt, interest accrues, and you're responsible for that, as well. Creditors can also seize any money that you have in a bank account. Again, the rules for seizing money vary from state to state.

If the creditor decides to garnish your wages, one of your few available options is to resign and move to another job with the hopes that they won't find out where you work. The best thing to do is to contact them and work out some type of payment plan with them or you may be able to negotiate a reduced settlement. More than likely, it's not going to go away, and you might as well get it settled.

If you don't make any attempt to take care of this, he may sue you. If that happens, you're responsible for any legal and collection fees which can add up quickly. $6700 is not really that much money, and rather than letting it turning into some obscene amount that can drive you into bankruptcy, contact them and work something out.

They want this problem addressed as bad as you want to avoid it, but they have a lot more options.

You owe them $6700. If they took the time to go to court and win a judgement before the statute of limitations expired I would say the chances of them garnishing your wages are pretty good if they find out where you work. Depending on where you live the creditor can come after you for a judgement 20 years after it is awarded by the court.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.

Related Questions